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LONDON, SE5 0DP EXECUTIVE SUMMARY N Well Let Pub Investment Opportunity with Significant Future Development Potential

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LONDON, SE5 0DP EXECUTIVE SUMMARY N Well Let Pub Investment Opportunity with Significant Future Development Potential WELL LET PUB INVESTMENT OPPORTUNITY WITH SIGNIFICANT FUTURE DEVELOPMENT POTENTIAL NAG’S HEAD 242 CAMBERWELL ROAD LONDON, SE5 0DP EXECUTIVE SUMMARY n Well let pub investment opportunity with significant future development potential. n Located in the trendy south east London area of Camberwell. n Let for a term of 20 years. n Passing rent of £75,000 per annum. n Freehold. n Totalling 3,167 sq ft GIA. n Long term potential to redevelop the site with planning permission granted for extension of the existing building and change of use to residential. n The Vendor is seeking offers in excess of £1,175,000 (One Million One Hundred Seventy Five Thousand Pounds) subject to contract and exclusive of VAT, for the benefit of the freehold interest in the property. This price reflects a net initial yield of 6.00% after purchaser’s costs of 5.91% and only £371 per sq ft capital value on the existing GIA (£220 per sq ft on the consented area). A R C H W A Ilford Y A Hackney Stratford 1 Camden Market A A13 12 M11 West Ham A501 3 East Ham A1 T HA M E S 1 A G 50 A A T W 1 E T A 3 D W S Y 2 1 E A A R LOCATION W Y A S K 5 C The property is located in Camberwell, a dynamic and Soho 3 O CITY OF A13 1 A D fast improving district in south east London within Mayfair LONDON L Covent Garden A the borough of Southwark. Camberwell has a strong 13 A A Y reputation as a creative and artistic hub as well as 2 TATE MODERN 03 A 2 O 0 A1 A 1 R being a popular residential area. The area benefits 3 2 2 61 2 HYDE PARK from large areas of green space with Burgess Park and2 LONDON EYE TOWER 0 Camberwell Green on its doorstep. BRIDGE Waterloo BUCKINGHAM V PALACE A The area benefits from excellent transport routes to U X central London with Denmark Hill overground station Bermondsey H D RIVER THAMES L ROA A Isle of only 0.8 miles away providing direct trains to London WEL ROM L Elephant & Castle C L Victoria (9 mins journey time) and London Blackfriars Dogs A B R 1 0 (11 mins journey time). The property is also served I A D 2 G 3 2 E by London Underground with Kennington Station 2 R Vauxhall O 0 D (Northern Line) 1.2 miles away and Oval (Northern L Woolwich D ROAD K Line) 1 mile away. R 3 E O N VE A N S O T R A G R BURGESS PARK 2 D 0 2 E D Oval M UN D S T 5 FOWLDS CAFE 0 2 S Fulham D 3 ROA A Camberwell Greenwich N SITUATION DHAM A WYN A E 2 2 A 1 A D 5 OAD 2 R L 3 R M C A O A H A M A202 D 2 2 N 0 A O The property is situated on the west side Y M 2 2 A2 W N B 0 D G E G of Camberwell Road close to its junction R R L O R E W R E V V E D E O E C E with Peckham Road. R WING RESIDENTIAL W A L G R OVAL DEVELOPMENT L Denmark Hill C R S I E RD S T B H N M A O M E Immediately adjoining the property C W AY P 5 S to the north is a new residential 0 RD 242 Camberwell RD ON A 2 INGT 20 3 ELM development by Hyde New Homes 2 A B C A3 E A N M H 3 A A B I called Wing of Camberwell. This E L 2 E RO L R 2 2 C T D AR S W R MEDL 1 H R 5 D E E A E 2 S L N CAMBERWELL L T exciting new development is L C A E N 4 T E D LIBRARY R E A H D W M 2 A W O M A B rejuvenating the immediate vicinity L R Y F R O E A A D D R W providing a mix of 1, 2 and 3 Eltham E Horn 3 L bedroom apartments. L CAMBERWELL A R GREEN Dulwich D Park D TESCO EXPRESS A T A Village RD CAMBERWELL LL Camberwell offers an exciting mix of BU 2 LEISURE CENTRE S H TC O KNA 1 A20 4 H 2 R retailers, cafes and restaurants as well P E D CKHA G R M R R I O N E AD as the thriving market. N R DENMARK HILL H D A O R D ED W ST E G T N N TA M N S I X I A T C R A W R K M O I B L S H E B D R O E I O W N L N E R M L T L D A L R G K R O R V D GX GALLERY E NAG’S HEAD, 242 CAMBERWELL ROAD, LONDON, SE5 0DP r 1 v 1 e t o t l o Line Of Posts l 2 2 4 1 0 H 5 5 4 o 8 u 1 s 5 12 e 9 Kipling House Flecker House 6 3 1 to 38 2 Bishops Mead 5 7 . 2 S Br P M 2 2 2 8 7 Road Blucher BLUCHER ROAD 3 1 0 5 t o 3 1 6 9 DESCRIPTION TENURE TCBs 4.2m 2 9 The property is currently arranged as a pub with The property is held freehold. 1 to 24 Arnot FB ancillary residential accommodation over basement, House ground and first floor. FB 2 4 PH 2 L 6 a 6 4 4 4 4 4 n The breakdown of each floor is set out below. 4 o 2 2 2 t 2 d 1 o L t o TENANCY AND INCOME r a 8 4 m H 4 3 1 2 b o t o H u 4 0 s o 0 5 u e 2 s Accommodation Schedule The property is single let to Julie Mockler for a term of e Playground 20 years from 2nd April 2017 expiring 1st April7 2037. 13 Shelter 4 5 2 Floor Use Sq M GIA Sq Ft GIA The passing rent is £75,000 per annum and is subject to Play Area 0 6 First 3 bedroom 89 954 5 yearly upward only rent reviews to open market value. 2 flat The lease is contracted inside the Landlord and Tenant Place Of Worship e Ground Open plan 116 1,252 s u 6 2 o Act 1954 but compensation to the tenant is specifically o H t r 1 Posts bar area e d a excluded however the lease is terminated. 7 e Basement Cold room 89 961 R CE ROW BULLA Lom and storage C A 4.6m M El Sub 3 B Sta 0 5 9 0m 18 25m E TOTAL 294 3,167 7 R 6 W 4 E L ET L MEDLAR STRE Ordnance Survey © Crown Copyright 2017. All rights reserved. Licence number 100022432. Plotted Scale - 1:1250 R O A D NAG’S HEAD, 242 CAMBERWELL ROAD, LONDON, SE5 0DP DEVELOPMENT POTENTIAL MARKET COMMENTARY Planning permission (ref 15/AP/4839) was granted in April 2016 to infill the ground floor Recent comparable pub lettings include: rear with the retention of the A4 use. In addition the permission allowed for the change of use of the ancillary 1st floor accommodation to C3 residential with the extension of the Property Rent pa Comments mansard roof to allow for an additional 2nd floor to be installed. Crooked Well, 16 Grove Lane, £80,000 20 year lease expiring 2026 The consented scheme will provide the following areas: London, SE5 8SY Market House, 443 £83,000 15 year lease expiring 2026 Floor Sq M Sq Ft Coldharbour Lane, Brixton, Second floor 81 870 London, SW9 8LN First floor 97 1,044 Ground floor 230 2,476 Basement floor 89 961 PLANNING TOTAL 497 5,351 The property is located in the London Borough of Southwark. The property is not listed and does not sit within a conservation area. The basement and ground floors Residential Market only are listed as an Asset of Community Value (ACV). This listing does not affect the redevelopment potential of the upper floors or their ability to be accessed and used Camberwell is an increasingly popular residential area with house prices rising by over separately to the pub. 20% in 2016 alone. Immediately adjoining the Nags Head to the north is a brand new residential development called ‘Wing of Camberwell’ by Hyde New Homes. This scheme is transforming the immediate vicinity and setting a strong benchmark for residential values in the area. VAT Recent residential sales in Camberwell include: The property has been elected for VAT purposes and it is intended to Property Price Price £psf Date Comments treat the transaction as TOGC so Wing of £375,000 - £650-£700 psf Available New development that VAT will not be payable upon Camberwell, £750,000 under construction the purchase price. SE5 5 Medlar Street, £775,000 £707 psf Jan 2017 3 bed house London, SE5 27 Councillor £549,532 £701 psf Dec 2015 2 bed, EPC Street, London, ground floor flat SE5 An EPC is available upon request.
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